Cardano, the top trending blockchain has been buzzing lately post the “Mid Month Development Update” on August 13. Nigel Hemsley, Head of Delivery & Products at IOHK, and Tim Harrison, Marketing & Communications Director at IOHK, stated that Cardano’s Alonzo hard fork combinator event was scheduled for September 12. Following this announcement, ADA recorded a 52% hike in its price within a week; At press time, the altcoin was trading at $2.17.
Galaxy Digital CEO Mike Novogratz still isn’t convinced about ADA irrespective of the overall sentiment.
A mystery to me.
— Mike Novogratz (@novogratz) August 14, 2021
Raising questions on Cardano’s utility. He even added:
“I spoke to twenty of the smartest people I know in the space, and zero of them saw Cardano having traction with devs.”
“Here I can fix this statement for you Mike: “I’ve spoken to twenty of the smartest bankers I know in the space, and zero of them saw cryptocurrencies having any traction” 🙂
we all heard that one Let’s come back to his tweet every year. We’ll call August 15th, Mike check-in day.”
Next-level strength for #Cardano over the last month with a $71 billion market cap as price moved up 88.18% to $2.211. Social Engagement is up 10.5% on 👀1.2 billion total engagements, indicating very heavy community participation in social posts.https://t.co/ZX4c1eSHPj @Cardano pic.twitter.com/mqDqUM7g3r
— LunarCRUSH 🚀 Social Listening for Crypto (@LunarCRUSH) August 14, 2021
At the time of writing, social engagement metric stood at 181.9%, which was a major bullish sign.
This wasn’t the first time Novogratz criticised ADA and its development within its space. As covered before, he was ‘shocked’ with the coin and its community; he even compared it to a cult. He stated, “…and so things like Cardano, it shocks me, the valuation. And it shocks every smart developer I know. They have done something to create this weird cult.”
Novogratz recent comments might not have come as a surprise to Hoskinson; as covered before, he didn’t expect ‘those drinking from the Ethereum Kool-Aid’ to support Cardano.